DiDi in talks for IPO as early as this year

The discussions are in early stages, and DiDi hasn't decided on a listing venue.

DiDi Chuxing, China's largest ride-hailing provider, plans an initial public offering as early as this year, The Wall Street Journal reported on Tuesday.

The move would fetch a valuation of USD 70 billion to USD 80 billion and would make it one of the largest technology IPOs ever, the Journal said.

The Beijing-based company in recent weeks has been in talks with bankers about the feasibility of tapping the public markets for cash in the second half of 2018, people familiar with the matter told the Journal.

The discussions are in early stages, and DiDi hasn't decided on a listing venue, they added.

DiDi has accelerated talks on a potential IPO in part because one of its new rivals, Meituan-Dianping is moving forward with plans for a Hong Kong float later this year, the Journal said.

DiDi is facing new challengers as several companies, including Meituan-Dianping and Ctrip, enter the ride-hailing market and launch related services, notching up the already intense competition.